Wheat is trading with Monday morning weakness of 3 to 6 cents across most contracts. The wheat market posted losses on Friday, as weaker export sales day resumed in the morning report. Chicago SRW futures were down 19 to 10 cents in the nearbys, with March up 5 ¼ cents last week. KC HRW futures were down 11 to 12 cents in the front months, as March was up 11 cents on the week. MPLS spring wheat was 9 to 10 cents lower, as March bounced back 11 ¾ cents last week.
CFTC data showed CBT wheat speculators trimming their large net short position by 2,601 contracts to 91,792 contracts as of Tuesday. In KC, they parred back 2,475 contracts to 35,131 contracts net short.
Export Sales data was released on Friday morning, showing just 164,837 MT in wheat sales during the week of 1/16. That was below the trade expectations, looking for 200,000 to 600,000 MT, and less than a third of the previous week. Mexico was the buyer of 57,500 NT with 49,200 MT sold to Japan. Sales for 2025/26 were above the expected 0-50,000 MT at 50,500 MT. The Philippines was the buyer of 33,000 with 14,000 MT sold to Japan.
Mar 25 CBOT Wheat closed at $5.44, down 10 cents, currently down 5 1/2 cents
May 25 CBOT Wheat closed at $5.58 3/4, down 9 cents, currently down 5 1/2 cents
Mar 25 KCBT Wheat closed at $5.59 1/2, down 11 1/4 cents, currently down 4 cents
May 25 KCBT Wheat closed at $5.69 1/2, down 11 1/4 cents, currently down 4 cents
Mar 25 MGEX Wheat closed at $5.95 1/4, down 9 1/4 cents, currently down 3 cents
May 25 MGEX Wheat closed at $6.05 3/4, down 9 1/4 cents, currently down 2 cents
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.